Shorts squeeze still a possibility
Updated
The recent downward move on SPX has left everyone in fear, I am still not satisfied that this move is the last downward move of correction cycle (wave Z) rather i believe it seems like wave B of expanded flat of our bigger wave X. For this to be viable, I would not wish for SPX to loose the mentioned Fib pocket, I am hedging my short here once again with hope to see some upward movement, SL is tight for my long, will close my short if bullish move is confirmed.
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For sometime there, SPX went below that fib level 0.786, but we are seeing the 5 impulsive wave move upward, I believe the bottom is here.
I will be looking for SPX to reach the mentioned fib levels in upcoming days.
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